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for the holidays. >>> across spain thursday, coordinated demonstrations were head in dozens of cities to protest cuts in education. it's part of austerity measures aimed at lifting the country out of diet dep. spain's recession is hurting the theater business, too, but as mark phillips reports, one owner found a way to sell tickets. >> reporter: other places, theatrical productions may be about drama and song. in spain right now, though, they're also about vegetables, specifically -- >> carrots. carrots. >> reporter: carrots. the humble root which may determine whether kym marsh's theater in the town near barcelona lives or dies and a lot of others too. why? because the spanish government has recently just about tripled the sales tax on theater tickets and kym fears that no one would ever fill these seats, until he made a discovery whiles out shopping. the tax on carrots is 4%. >> 4%, yes. >> reporter: the tax on theater tickets -- >> 21%. >> reporter: 21%. kym marsh did the math. food for the body, 4% tax. food for the soul, 21%. there had to be a way to bridge the gap. there was. kym doesn't s
bond denominated in the strongest currency in the world, the euro, paying 5.5%? i'll take spain over the united states at this point any day. >> all right. >> so don't agree at all. do not agree at all. look, retail sales in spain are down 9.7% year-over-year. they're seeing the biggest bank run in spain the globe has seen since the great depression. youth unemployment in spain is 55%. there is not a good reason to own spanish bonds here. [ overlapping speakers ] >> last time we were on together you were saying the world was going to end because greece was going to default and leave the euro. it's all over. europe's fine. just give it a break. that was last year's story. [ overlapping speakers ] >> europe is not fine. spain is in significantly worse position. they've taken on more debt into deteriorating economy. you tell me how that translates to this has all been fixed and this is all solved. it's not solved at all. [ overlapping speakers ] >> spain has about the same debt to gdp ratio as germany. that good enough for you? >> [ overlapping speakers ] >> hang on, fellows. let's not
the spectacle of that. >> new year's in spain, it also has an interesting tradition. it involves grapes only because the grapes sitting right here. tell me about this. >> yes, all people in spain on the strike of midnight do the following, a great spanish tradition. what they do is, they will start with one grape on the stroke of midnight and for every single minute, every second until the next minute have another grape. i thought we should try it and see how it goes. usually people in spain don't necessarily eat all the grapes, but we can try and, again, it's called the old knight and in the squares of madrid, they'll have the huge clocks chiming and the people in the square all together will do it collectively. so, as we hear the first chime, let's try it. >> do we have chimes? >> we have chimes. >> i'm going to choke if i eat more than one. worse yet, you can't kiss. how do they kiss? you can't answer because you're eating these grapes. you do this well, i think you went to spain at least once for new year's eve. >> she did much better than me. >> i dropped one. >> i have 11 sitting here.
. but europe is also finding that green jobs are not all they thought that there would be. spain has just stopped its subsidy for solar power. a solar power does not work in sunny spain it is probably not going to work anywhere. gerry has also stopped its subsidies for solar power. there are a lot of clouds in germany. but the un has had a very strong influence on less. >> po will not old enough to remember, but jimmy carter gave billions of dollars to up alternate energy projects. >> i do remember. i was of the people who had to wait in gas lines in the 1970's. >> to any of those plants still exist? i don't think it lasted more than a couple of years. secondly, are you familiar with another program where he gave money to build five different steel mills, four of went with -- board of which went bankrupt almost immediately and the fifth one put at a business the plan in kansas city in. >> well, jimmy carter's programs did not work then, as i mentioned, i remember waiting in the 1970's in gas lines for one or two hours to fill up with gasoline in the western d.c. area. and just as thes
trips to study abroad in spain, italy, morocco. perhaps most importantly chris knew how to relax and enjoy the moment. when i would periodically freak out about my course work or some o ther problem i thought i had he would make me stop and take a break, play a game of back gammon on the balcony and enjoy the view. it was an early lesson in the zenlike mindfulness of chris. no wonder he exceled in such a challenging and stressful career. i don't want you to think chris was perfect. after extensive research we came up with at least one or two blemishes on his record, sort of. in the interest of time i'm leaving out inappropriate limericks about philosophers. the only time i saw him lose his temper is when we were sharing a double room in the last year. some of the lessen lightened brethren decided to make a bunch of noise during finals week. when yelling at these guys didn't do the trick, chris burst out of bed, ran out onto the balcony, grabbed a water fire extinguisher and let them have it. he seemed much less angry when he came into the room and particularly pleased when the gu
, she spoke english and spain and was successful in music and reality tv. >> the fans are mourning. people are hurt. >> san jose singer and radio personality says rivera wasn't shy about letting the world know about her problems and failed marriages. >> her music portrayed that women can do it, too. kind of like a feminist thing. if i did it, you can do it. if you have kids, if you're in a tough relationship, you can still make it. >> to the many working moms in the mexican american community she was a favorite and a role model. >> a very good mother. she's an example for me because i'm a single mother, too. she tried very hard to help her kids. >> sad day for you? >> very sad. very sad. >> a lot of fans just can't believe the news is true. in fact, it was thought that it might be a hoax early on because initial reports did not find her remains at the scene. but this afternoon u.s. ntsb officials did confirm her remains were found. jenni rivera dead at 43. len ramirez, cbs 5. >>> an motional apology from the australian djs who pulled a prank on the hospital treating the pregnant du
, and more. impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. [ male announcer ] every time you say no to a cigarette you celebrate a little win. nicorette gum helps calm your cravings and makes you less irritable. quit one cigarette at a time. >>> this special edition of "nightline" continues from new york city with bill weir. >> not columbine, nor virginia tech, nor the gaby giffords shooting that took six lives in tuscan had much effect on the gun debate if this country. but there is nothing like the slaughter of 20 first graders to help people focus on an issue. many on both sides of the second amendment debate wonder tonight if this one is big enough to actually change the bi
. >> paragliders back on the ground after surviving in spain. >> he spent four hours dangling from high voltage lines in spain. he narrowly missed being electrocuted. >> a helicopter team tried to reach him but it got too dark. >> thanks for joining us at a4:00. >> awc 7 news at 5:00mhá2t begis right now. >>. >> thank you. more victims of a car consignment shop come forward, claiming the dealer drove off with the car and earnings. skpf one thing car owners should never hand over before the deal is sun. >> same-sex weddings left on hold. we'll take a look at what this means for those on either side of the battle. >> and i'm abc 7 news i'll let you you know if the dry pattern will continue. >> good evening, i'm dan ashley. >> the u.s. supreme court will consider california ban on same-sex marriage. >> that is right. it's a crucial decision not only affecting us and perhaps every state in the union as well. our coverage begins in sacramento. nannette? >> by taking41q prop 8 the court embarking on what could be a term involving civil rights decades. >> this is personally very personal to us. >> we
. they are considering plans to phase-out the atomic energy altogether over the next several decades. spain, a flower in the face. it is the annual flower fight using eggs and firecrackers and flour. and it is a day marking the innocence, spain's equivalence of april fool's. it is this fox trip around the world in 80 seconds. >>> a french constitutional panel is saying goodbye to that country's staggering 75% tax rate on the wealthy. the panel has ruled the tax is unconstitutional and unfair. let me say it again. 75% on the wealthy. it was set to kick in at the start of 2013 and will hit anyone hitting a million euros. critics didn't like it. they said it would drive away france's wealthy population. joining me now on the phone from paris is katherine fields. she is a correspondent for global radio news. katherine, why was this tax overturned? >> it was overturned because the court said it failed to rec recognize equality before public burden. what this means is it has been applied to individuals rather than households. the court knows this top rate would have applied to a married couple, for example
to phase-out the atomic energy altogether over the next several decades. spain, a flower in the face. it is the annual flower fight using eggs and firecrackers and flour. and it is a day marking the innocence, spain's equivalence of april fool's. it is this fox trip around the world in 80 seconds. >>> a french constitutional panel is saying goodbye to that country's staggering 75% tax rate on the wealthy. the panel has ruled the tax is unconstitutional and unfair. let me say it again. 75% on the wealthy. it was set to kick in at the start of 2013 and will hit anyone hitting a million euros. critics didn't like it. they said it would drive away france's wealthy population. joining me now on the phone from paris is katherine fields. she is a correspondent for global radio news. katherine, why was this tax overturned? >> it was overturned because the court said it failed to rec recognize equality before public burden. what this means is it has been applied to individuals rather than households. the court knows this top rate would have applied to a married couple, for example, if one mem
to celebrate with his parents >> some lucky people in spain are celebrating winning spain's cherished christmas lottery. the lottery is the world's richest.giving out 3-point-3 billion dollars in tax-free monetary prizes. that's in u-s dollars. unlike lotteries that generate a few big winners, spain's version - now celebrating its 200th anniversary - has always shared the wealth more evenly instead of concentrating on vast jackpots. >> he has produced everybody from willie nelson, diana ross, more, coming up. >> there is something going on here, even as obama released his a birth certificate, even after that 50 percent of republicans still were not quite sure that he was american. and they say that he feels foreign. that is the phrase that they used. and to me, john boehner, he feels female. [laughter] >> jan: that is bill maherthat was a clip from bill maher's internet standup special called "crazy,rick, you are the producer of those trips that are going to honolulu on new year's eve and maui a new year's day. >> oakland has a direct flight. >> that is terrific. >> he has a ton of fans. come o
] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> welcome back to squawk. happy monday. today in the "wall street journal" suggesting netflix could end up doomed with its success with children. netflix just for kids get more popular. companies like viacom get accurate. companies provide netflix with most of its content in a kids' focused section. the journal says at some point the suppliers will probably want to charge netflix more or they might even stop selling to netflix. that's been a huge problem for them when it comes to contend more broadly. >> time for the global markets report. kelly evans standing by in london. you rise above over
that gave him away with every fib. but tonight new research out of the university of granada, spain, shows walt disney was a science pioneer. look at this. scientists decided to take thermal pictures of someone telling a lie, and you can see it right there, the picture is showing the area around the nose is bright red. it turns out our noses heat up when we stretch the truth, somehow connecting the part of the brain that links heat to emotion. >>> and we have another fresh look at an old idea. our picture tonight, the iconic hollywood sign after its face-lift ready for its close-up. nine letters, each 45 feet tall given a fresh coat of paint, 275 gallons, if you're counting, and the makeover now prepares the sign for its 90th birthday next year. and we really do love hearing what captured your imagination every day. so tweet me your thoughts for "instant index" @dianesawyer. we'll be reading them. >>> and coming up next, she is a legend in fashion and in film and now rumored to be in line for a big job in the obama administration? ♪ ♪ ♪ [ male announcer ] you've been years in the mak
things that are important until they're not. we were terrified that spain and italy couldn't pay their bills. we knew these companies could not bring down taxes. it turns out that we were afraid that these bonds were bringing the whole world down and we should have been buying them. the europeans offered sensible plans and responsible governments stepped up to increase taxes and cut benefits. if you had been able to borrow a ton of money to buy them it would have doubled. it may have been the single best investment of the 21st century to date. we are gripped by a similar hysteria about our own country. the fiscal cliff is like what they had in europe. we need to look for companies being obliterated by the cliff. banco santander was perceived to be the biggest loser. but it turned out to be an amazing trade. the stock traveled to $7.72. i don't think it's done. charitable trust is buying a major midwestern lender. stock has been sliding every day. key is now under $8 and i can tell from the trading in the name it is not going to happen just yet. there are sellers everywhere. the o
scoring a winning lottery ticket worth half million dollars. it is especially ailing in spain. a recap of a fox top story. u.s. marine veteran held in a mexican prison since august is back in the united states. john hammar was arrested in mexico while trying to bring in
as governor. spain was he the head of the church at the time? >> absolutely. >> was their political insight within the church and did he have rifles? >> not really he felt that he didn't have any rivals within the church especially after they get to utah. there are other people that put themselves forward as possible leaders after joseph smith's death, but at the time brigham young's faction of the church reaches utah, he has eliminated most dissent. in fact she brags that the church does not experience 10% of the dissent under his leadership as it had under joseph but he had a firm hand. >> how many wives did he have? >> only 55. >> how many children? >> 58? wohlstetter does he have descendants today? >> tens of thousands. if they but all by the book i would be very wealthy. >> were you able to talk with any of his descendants and researching pioneer profit? >> i didn't set out to talk with any of his descendants but there are quite a number of brigham young's descendants in utah and i spent a lot of time in utah during research for the book so i happened to meet some of his descendants. >
the siren and pulled the baby away from traffic. nobody was hurt ?ie. shortly in spain, the biggest lottery in the world will be held. tickets look like this. hopefully we can show you. we don't have it. bummer. the lottery is called "el gordo" or the fat one because of the size, 3 billion euros. it has been held before christmas since 1812. >> i want to win el gordo. >>> abc president and general manager honored don sanchez. don is retiring after 40 years at abc news. today was his last name. since 1972 he worked as a news anchor, sports castor and arts and entertainment. there is not a nicer man on the planet. don, we will miss you. >> we will. >> nice man. >>> that's this edition of abc7 news. i'm dan ashley. >> i'm ama dates. the news continues tomorrow morning at 5:00 a.m. [ female announcer ] can your pancake mix do this? sure, bisquick makes delicious pancakes, but that's just the start. unleash the hidden power of bisquick. see what you can make at bisquick.com. [ female announcer ] let betty crocker do the measuring and get a head start on delicious homemade cookies. ♪ just pour,
away from traffic. nobody was hurt ?ie. shortly in spain, the biggest lottery in the world will be held. tickets look like this. hopefully we can show you. we don't have it. bummer. the lottery is called "el gordo" or the fat one because of the size, 3 billion euros. it has been held before christmas since 1812. >> i want to win el gordo. >>> abc president and general manager honored don sanchez. don is retiring after 40 years at abc news. today was his last name. since 1972 he worked as a news anchor, sports castor and arts and entertainment. there is not a nicer man on the planet. don, we will miss you. >> we will. >> nice man. >>> that's this edition of abc7 news. i'm dan ashley. >> i'm ama dates. the news continues tomorrow morning at 5:00 a.m. >>> as the country observes a moment of silence for the 26 lives lost at sandy hook elementary, the national rifle association launches a controversial call to arms. at country schools. >> enough. >> enough. >> enough. >> enough. >> of course the celebrities demand a plan from president obama. while new york city city mayor michael bloomberg
in wales, portugal, spain, all over. we do not know why. we do not know what to do about it. i will give an answer that will interest and amuse the previous questioner. when two things coincided in late 18th-century england, a grain surplus, the result was a cheap gin and a social calamity. they passed a few laws, licensing laws, it did not help. what turned britain around was john wesley. methodism. converting the women of england -- [laughter] that is the way it worked. it is an odd thing for me to be saying. >> you talked about the virtues freedom requires. i worked in the field of education. if our major problem children come to school without virtues, it is the public school system the place to nurture that? i believe our society and culture does not nurture those virtues. how do we address that? >> this is a good question. the family is the smallest school. by the time all lots of negligently parentage, often at no-fault to the single mother, these children get to school, and it is too late. the chicago schoolteacher it says should its first graders who do not know numbers, shapes,
so far. europe is moving things. not the united states. spain also by the way we didn't talk about this they officially asked for european funds to recapitalize their banking sectors. that's also a bit of good news. i want to talk about china because i got a lot of calls and questions about my comments last week on china. have you noticed we got good news on the manufacturing overnight on china. better than expected. november better than expected. the pmi numbers. guess the whole world went up. korea went up. everything went up except china. a lot of comments last week about what exactly is happening in china because china -- mainland china stock market is among of the worst performers for the whole year. we're down 11% in shanghai this year. hong kong is up 18%. how do you explain this? this was a huge debate in the last couple of weeks and of course a lot of people are@@ pointing to the fact that there's less stimulus than expected coming from the government. they haven't said anything but that's not the problem. this has been going on now for months and months on end. selling sh
than greece, more than spain. but conversely, china, if gdp is coming back, they are in what many consider to be a sweet spot. >> the numbers came out saturday for china. i think italy has been remarkably good. so this was a big game changer. italy had been a part of the good story of european recovery. now it's back. >> all to monti was never intended to be there for the long term. >> sure. >> in fact, he may be leaving a month earlier than originally planned. this should not be a surprise in the larger context. while we may mention berlusconi's name right now, he's not expected to win. >> look, we knew that monti was successful. >> it may be whoever follows him is going to roll some of the gains that he's had. so-called gains. >> that's going to cause ripples here. look, on saturday night, i said, we're going to have a nice opening. china's good, people know that monti is not really going to hurt italy. i think if china continues the momentum, but the number -- >> the ex sports were less than expected in the month of november. which is a concern. then there's this perverse glass
as you have a drag on the economy. you have negative growth, a recession in spain and italy this year. you also have negative growth in greece. there's only so much you can have of negative growth across the continent of europe before impact spending patterns across the world. there are positives out there but we have to be focused on the fact that these problems are not going to go away. one of every four people in spain are unemployed and under the age of 25. fifty-six% to not have a job. that is a major rest of the for disaster and the math does not work. if you try to fix a problem with negative growth and nobody working. dennis: a lesson here. one last note on the fed. what is your concern there? >> pretty simple. the fed has raised the credit market. yield and price are not real. they are buying up trillions of dollars of these bonds and i'm worried about the day when the market no longer listens to them. the market has not been bigger than the fed over the last few years. of the market gets bigger than the fed, look out. yields should be much higher than where they are and if w
and that is a game leapfrog. we end up with more debt and a weaker economy. the road map is greece, italy, spain, all over europe but the president thinks you can tax-and-spend your way to prosperity. >>neil: what the administration throws back on the issue is take a look at italy and greece, austerity has worked. you say what? >>guest: they have a strange definition. alwaysst either to them means higher taxes in europe and the united states austerity means less spending. i am in favor of the right definition of austerity. the balkan countries got out of the mess and now they are doing well economically because they cut, not just cut spending in the washington sense of increasing it at a slower rate they spent less one year after the other and now they are out of the trouble. if you understand the right definition of austerity is the way to go, the problem is in most of europe it means higher taxes, obama wants to give us the bad part of europe, without the good part. >>neil: thank you very much. they are not cutting anything. just slowing the growth. rebound and former president bill clinton hitting
restaurant called tinto which is by iron chef jose garces. it serves cuisine from the north part of spain and there is a tequila bar. lots to do in palm springs. take the tramway up the mountains where it's cooler. great for trekking. go to joshua tree national park or on architecture tours. >> for more travel tips and ideas visit jetsetter.com. tonight they will be awarding colleges heisman trophy and it could be life-changing for one player. could be historic for the trophy itself. [ ross ] the streets of monaco, home of the legendary grand prix circuit. the perfect place to bring the all-new cadillac ats to test the 2.0-liter turbo engine. [ engine revs ] ♪ [ derek ] 272 horsepower. the lightest in its class. the cadillac ats outmatches the bmw 3 series. i cannot believe i have ended the day not scraping some red paint off on these barriers. ♪ [ male announcer ] the all-new cadillac ats. ♪ you make me happy [ female announcer ] choose the same brand your mom trusted for you. children's tylenol, the #1 brand of pain and fever relief recommended by pediatricians and used by moms de
never happen. impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. ro price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. to the number 1 club in the world. the potential of manchester united unlocked. nyse euronext. unlocking the world's potential. introducing chase liquid. card hassles? the reloadable card that's easy to activate and can be used right away. plus, you can load cash or checks at any chase depositfriendly atm and checks right from your smartphone. get rid of prepaid problems. get chase liquid. >> greta: president obama refusing to budge. if that happen, will america's top earners leave the country? sounds extreme? that's what's happening in france. the socialist government imposing a 75% tax on numbers higher than 1 million e
are investigating. spain, police arrested 35 people near madrid and seized more than 12 tons of a product of can any-cannabis. supplying the european market. belgium, chocolateers, guiness world record certifying the creation. the candy makers saying it took more than 780 hours and 2700 pounds of chocolate to make. um-huh and that's a rap on this fox trip around the world in 80 seconds. >> harris: santa, please remember to pay your taxes. that's what tax officials are telling street entertainers in cash strapped ukraine. the government there facing $9 billion in debt repayments next year. so, people who dress up as santa claus can reportedly make up to 440 bucks an hour performing in the capitol the state tax service has reminded those holiday entertainers to file forms and pay their taxes. cannot tax checks on small businesses urging ukrainian citizens to report any tax dodging santas. would you want to be the one to turn in santa? it may have been the year of the dragon in china. 2012 was filled with all source of critters and their wild moments caught on camera. next, a look back at a big year in
. the crisis in europe is going to get dramatically worse in portugal, spain, italy. there is dysfunction in the european union. that's one place to look. that's going to encourage russia to make moves of its own, you mentioned south africa. south africa is not going in a good direction, it's supposed to be the most optimistic spot on the african continent. so i don't see many bright spots, maybe new zealand, but some say that even new seeland-- >> still ahead, counting to obamacare. big changes could be coming in 2013 for you and your family. thanks to the president's health care overhaul. we'll tell you what to expect when we come back. [ male announcer ] truth is, dayquil doesn't treat that. really? [ male announcer ] alka-seltzer plus fights your worst cold symptoms, plus it relieves your runny nose. [ breathes deeply ] awesome. [ male announcer ] yes, it is. that's the cold truth! >> well, get ready, america, for the arrival of obamacare, some key provisions of the president's mammoth overhaul kick in come january and joe is here to tell you what to expect. or as we call the bill, j
will be there in march. i hear it's fantastic. they eentrecently redid their s made over in spain which is one of the nominees to the new 7 wonders of the world. look forward to going. they are supposed to have luxurious treatments. supposed to be awesome boca is a great place to go and chill out for a while. >> and warm after the holidays. >> if you want a cozy cold get away. >> i like to stay in the northeast. i am going to montrembl trem plant. it's 25 minutes from montreal. you can take your snowmobile straight to your hotel. supposed to have world class skiing and other types of winter activities. if you don't like skiing you can sit in the hot tub and have hot chocolate. >> curl up with a blanket. if you want to pull out your passport what do you recommend? >> i am a huge fan of duck america. they hosted a cowl nature retown which is one of the best places to eat. they have the best meat in the world trust me on that one. wine in world class vineyards and tours by ducasso travel. they will take you and show you the ins and outs. >> if you want adventure, you want spice in your life where
dramatically worse. in portugal, spain, italy, there is deepening political dysfunction in the european union. thases one place to look -- that's one place to look. it will encourage russia to make moves of its own. you mentioned south africa. south africa is not going in a good direction. it was supposed to be the most optimistic spot on the african continent. i don't see many bright spots. maybe new zealand, but even the new zealand economy is heading south. >>> still ahead, counting down to obamacare. big changes could be coming in 2013 for you and your family thanks to the y president's health care overhaul. we'll tell you what to expect when we come back. >>> well, get ready, america, for the arrival of obamacare. key provisions of the mammoth health care overhaulro kick in. the editorial board member is here to tell you what to expect. or as we call the bill, joe, the lifetime employment act. so what can we expect this year? >> well, look, the bill ramps up starting in october 2013. so you are going to have three big changes. it is pouring out of the obama administration and regulation
. in portugal, spain, italy, there isening political dysfunction. that is going to encourage russia to make moves of its own. you mention south africa, south africa is not going in 'n a good direction. it was supposed to be the most optimistic spot. maybe new zealand but somebody told me they are heading south. >> paul: coming down to obamacare. big changes may be coming for 2013 for you and your family thanks to the president's healthcare overhaul. we'll tell you what to expect when we come back. ly? [ male announcer ] alka-seltzer plus fights your worst cold symptoms, plus it relieves your runny nose. [ breathes deeply ] awesome. [ male announcer ] yes, it is. that's the cold truth! time for citi price rewind. because your daughter really wants that pink castle thing. and you realldon't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it findone, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all youeed is a magic carriage. citi pri
on the debt ceiling right this menu. when you look at how much we are spending we are similar to spain and greece. it is not a pretty scenario. >> tell me this what happens when we judge up against it? >> everybody starts wondering when we are going to raise the debt ceiling. there's a debate because they don't like to. then you have all of wall street looking at this wondering if we will be able to pay our bills. you remember what happened last time around the market sold off 2,000 points over the 2 month period. it was dramatic and hurt people's 401 k's. if you can't pay your bills you get a downgrade. >> again. >> it's not going to be good news. you know what happens you can't borrow as much money. >> that's what happens to me. >> it costs you more to borrow. all of us coming together it will be -- it could be we would be watching none of this would come to a surprise fell off the market every single day. they know what's happening. they know what's going on. it's not a surprise but nobody likes to see it. >> when they raise the debt ceiling is that to pay off debt already accrued.
. >>> in spain the lines are long as people wait there to buy a lottery ticket. the world's oldest weekly lottery is giving away the biggest jack spot price in history. up for grabs $3 billion. even though the jackpot is record sized fewer people are snatching up tickets. customers say it is a sign of the slow economy. elementary and middle school students will be riding in style this winter break. it's all thanks to a bike give away coordinated through campbell mayor evan low. >> kids will remember their first bike and it's important to figure out a way to make children's lives a little more special. >> 42 students attending elementary and middle schools in the campbell union school district were chosen to receive the brand new bikes. >>> we are getting new information now on the scene of that accident in san francisco where four people were hit by a speeding driver. what first responders saw when they arrived on that scene. a bay area city siting with a dispensary. the information that unfolded today inside a federal court in san francisco. >>> new information now from the scene of that acciden
of sexual assault in sweden. >>> in spain the lines are long as people wait there to buy a lottery ticket. the world's oldest weekly lottery is giving away the biggest jack spot price in history. up for grabs $3 billion. even though the jackpot is record sized fewer people are snatching up tickets. customers say it is a sign of the slow economy. elementary and middle school students will be riding in style this winter break. it's all thanks to a bike give away coordinated through campbell mayor evan low. >> kids will remember their first bike and it's important to figure out a way to make children's lives a little more special. >> 42 students attending elementary and middle schools in the campbell union school district were chosen to receive the brand new bikes. >>> we are getting new information now on the scene of that accident in san francisco where four people were hit by a speeding driver. what first responders sawhen they arrived on that scene. a bay area city siting with a dispensary. the information that unfolded today inside a federal court in san francisco. >>> our chief meteoro
, we had to baja, the bp oil spill, nuclear meltdown, debt downgrades, greece, italy, spain, foreclosures, student loans, how many things do we have to get fearful about before we start to believe in this economy? it is not booming. i am not saying it is perfect, not saying it is 1980s again, is not but is growing 2% per year, maybe 2.2, two.three, and it keeps growing. we have not had a recession since march of 2009. >> it is media granddad as almost people feel. if we take the consumer back and put them in the jobs report we did see the number of hours increase as did wages. what do you make of that? does that give you hope? >> it does. if you look at car sales in november, automobile sales, fifteen million vehicles were sold in november. highest since december of 2007. that weakness we saw in cars and auto sales in october and retail sales, i think because of sandy it is going to be over. november and december will be great month for the consumer. i do have hope. i don't think we're going to boom. we won't grow 4% we will grow between 2% and 3% real growth next year in 20
another in the wrong direction. at the end of that journey the destination is greece or spain or italy. melissa: right. >> we have to figure out how to get control of intitlements. the while house refuses to have adult conversation about that. melissa: neither of these proposals, neither side gets us closer to closing the enormous gap you're talking about. i say over and over again and if this was your household and bills were so far out of line with what the revenue was you could get very serious very quickly. these people do not seem to do that. for republicans is it looking more and more palatable to go over the cliff at this point? >> depends on how dogmatic obama is. like selling a car on craig's list and put it up for 5,000 and really take 4500. someone offers you 4,000. this is classic negotiating. we have to be serious. this isn't just a game. we're not playing poker on a thursday night. if we don't get fix our fiscal problem, by the way to give republicans credit, i just don't want to attack them, they passed the ryan budget earlier this year and last year and that actually do
perfect timing. >> that is great. >>> a very merry christmas for lottery winners all across spain. how many people, won the annual el gordo contest and the big prize they will be sharing. card hassles? introducing chase liquid. the reloadable card that's easy to activate and can be used right away. plus, you can load cash or checks at any chase depositfriendly atm and checks right from your smartphone. get rid of prepaid problems. get chase liquid. >>> well, spain's famous el gordo lottery created a dozen big winners and we want to show you video of this morning's drawing which was awarded to people in 15 towns and cities with prizes of more than a half million dollars each. thousands of other ticket holders will claim smaller prizes. spain's christmas time lottery is marking its 00th -- 200th anniversary this year. >>> two national store chains are featuring around the clock shopping events this holiday season. macy's started a 48-hour sale yesterday morning. macy's stores will stay open continuously today and tomorrow. closing at midnight tomorrow night. most macy's stores will reope
over the weekend. the ibex down over the weekend. so spain and portugal, seeing its index down over more than is % is showing its concern. joe, the ftse is at least holding up relatively better. it's down only .3% today. these losses follow a trading session that was setting up to be relatively strong. we saw asian stoxx doing decently well, so just kind of underscores how unhappy the market is this morning with this news out of italy. look at what's happening with debt. as we check in with bond markets, the italian tenure is seeing its yield rise. 4.88%. i know it doesn't seem that high, given some levels we were at last year. but if you consider that we've risen, i don't know, in the range of 30 to 40 basis points or .3 percentage points just on this news, it is pretty significant. spain, same thing, we're seeing 5.67 about the level there. other bond yields are benefiting as a result. back over to you guys. i'm sure carolin, too, can help us try to understand now what this all means with mario monti potentially still involved with the next eye toolan government. that may help rea
the board as investors did show up. if we flip over to spain in particular, we can take a look at the three-year over here. a bid to cover ratio of 4.8%. one indication certainly of the kind of indications there are where the ecb is expected to be the most active if and when these countries have to access their bailout programs. now we're seeing prices in spain sell off a little bit. the ten-year, just under 5.4% is the level there. for the longer dated papers, investors are a little bit more wary. now, that news coming out of the euro group meeting, i wanted to show you the euro/dollar as we wrap up today's global market support. it's still down .1%, 1.3056. that would tell you that the resolution is largely priced in. now as focus moves into the start of next year, a couple of the key questions will be how much mario draghi follows ben bernan bernanke's caps, maybe even cutting into positive territory. expect to hear plenty more about that in the weeks to come. but for now, some resolution means this is front and center for these fiscal cliffs. back over to you guys. >> kelly, have your b
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